Why do 99% of people in the cryptocurrency space fail to make money?

When everyone enters the cryptocurrency space, their initial thought is to make money, but the reality is that most people end up failing. Why? Because there are three core reasons.

Reason one: Driven by emotions

People are easily influenced by emotions, and emotional decision-making often leads us to make big mistakes in the cryptocurrency space.

Fear: When seeing the market drop, we panic, worried about expanding losses, even questioning life.

Regret: When the account starts losing money, we can't sleep well at night, hating ourselves for buying in, feeling hopeless.

Complacency: Occasionally making some money leads us to think we are geniuses, too lucky, and will soon get rich.

These emotions cloud our judgment; in reality, market fluctuations are normal, and short-term ups and downs do not determine long-term outcomes. Yet we tend to overthink, exaggerating losses and mistaking profits for skill, which easily leads us astray emotionally.

Reason two: Only looking at surface phenomena

Many people in the cryptocurrency space focus only on superficial things, such as price fluctuations or various news online. These may seem lively but are essentially useless.

For example, the market is like a shadow play. If you only look at the shadows in front of the curtain, you will never know what the people behind the scenes intend to do next. Only by going behind the scenes, understanding the puppeteers and their objectives, can you truly see the whole picture.

Here, the "curtain" represents the market, and the "puppeteer" represents price fluctuations. To make money, you should not just follow the price but understand the broader direction to avoid wasting time and capital.

Reason three: Influence of the environment

The cryptocurrency space is a place where one can easily lose themselves. You will find that it amplifies human greed, anger, fear, ignorance, and arrogance.

Many people, after entering the cryptocurrency space, become just like their surroundings:

They only think about making quick big money, completely ignoring risks.

After buying coins, they fantasize about an immediate surge, disregarding logic and fundamentals.

They hope others will provide free answers while they are unwilling to spend time learning.

These thoughts are essentially assimilated by the environment. We should understand that the cryptocurrency space is just like the real world; to succeed, one needs to invest time and effort, study seriously, and accumulate experience rather than rely on shortcuts.